Shares of Max Estates gained nearly 1 percent in early on November 30 after the real estate firm entered into a binding arrangement with Antara Senior Living for advisory services. At 10:45am, the Max Estates stock was trading at Rs 302.63 on the NSE.
Max Estates, along with its subsidiary Max Estates Gurgaon (MEGL), the real estate arm of Max Group, plans to build a group housing project in Harsaru, Gurugram. The proposal includes allocating 33 percent of the available floor area ratio (FAR) for the project, which roughly translates to 6.07 lakh square feet.
This space will be dedicated to developing senior living units, along with associated facilities and amenities, including a club for the senior living development. To assist in this venture, Antara Senior Living (ASLL) has been engaged by MEGL.
Follow our live blog for all the market action
In simpler terms, Max Estates and its partners aim to create a housing project in Gurugram, reserving a significant portion for senior living, and they've enlisted the help of Antara Senior Living for this endeavour. Further, ASLL will provide its expertise and advisory services for design, conceptualisation, training and development of project personnel, and expert advice on marketing and sales for the senior living project.
Stock performance
The Max Estates stock has given a return of 6.87 percent over the last six months. The benchmark Nifty50 index has given a return of 8.43 percent over the same duration.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
